The answer is yes and no. The Yes is merely comparative. The No is fundamental. Several commentators have remarked that a failure to save Lehman was the cause of the credit crunch. It was not. The cause of the credit crunch was excessive lending on inflated assets to people who had no prospect of repaying, […]
The Republicans do not just dream of victory in 2012. The believe, after success mid-term, that they have a chance. The curious thing is that there have, up till now, been no candidates who inspire and know what they are talking about at the same time. Michelle Bachmann looks promising as well as glamorous and […]
This makes little sense. The purpose of the entire UN/NATO operation is to protect civilians. Several, indeed most, participating countries want Gaddafi gone, but that is not the official aim of the undertaking. The quickest way to end the bloodshed is to hold peace talks so that the Libyan people, who have grown tired of killing […]
Beneath the high drama of politics and protest, there are, beneath the surface, currents flowing through the Euro crisis, presently centred on Greece, which give an altered perspective to those who delve. First, the bail out of Greece is actually a bail out of, mostly European, banks. Many would be in very serious trouble if […]
It is sobering to look at the figures for the interest the U.K. government now has to pay out of taxes to cover the national debt. This debt pile grows by the second and will continue to do so until the budget is brought into balance. We are now paying over £40 billion per year and this […]
The Chinese Premier, on his tour of Europe, has said that China supports the Euro and will continue to invest in Euro bonds. This has offered some respite in the deepening crisis gripping the single currency zone, which is part political, part economic and part financial. However these kind words should not be over-interpreted. They […]
President Obama is savvy. He knows that the military the world over and down through the pages of history, always want a little more for a little longer. Nevertheless there comes a time when however much and however long will make no difference, except with total war, when every life and shell counts. Afghanistan is […]
We should not allow the very real problems of Greece and the Euro to dampen enthusiasm for the ideal of a united Europe. For centuries the various nation states, which make up the European family, have been at war with each other from time to time and much of the time, at huge human and […]
President Obama has overruled the advice of his generals and rightly so. This pointless but costly war has bumbled on for ten years, daily snatching the lives of brave servicemen and women who give their all as the highest calling of patriotic duty. It also costs the lives of countless Afghans, some fighters, but many […]
The Deputy Prime Minister wants to give everybody free shares in Lloyds Bank and RBS, so as to reward taxpayers for bailing out the banks. This is just silly. First we are in the midst of a sovereign debt crisis, destabilised by a euro crisis. At best this will lead to significant sovereign debt re-structuring, […]